Along with the opportunities brought about by international economic integration,
Vietnam also face risk of dependence
Vietnam đã kí kết agreement is the Regional Comprehensive Economic
Partnership (RCEP), which expands Vietnam’s export markets for agricultural and
aquatic products, garments, textiles, and footwear. Nhưng nó cũng will là nguyên nhân
potentially increasing reliance on other countries.
Vietnam export markets are relatively concentrated Vietnam’s exports rely heavily on
five markets. In 2020, about 75 percent of Vietnam’s final product exports were
destined for the United States (37 percent), the EU (19 percent), China (8 percent),
Japan (7 percent), and Korea (6 percent).
If imports exceed exports, Vietnam will have to rely on a foreign power to meet
domestic demand, causing a foreign currency recession.
Vietnam’s export performance is vulnerable to demand shocks in these key markets
Viet lai
Certainly, this is a more logically structured version of the information:
On the other hand, a challenge Vietnam faces when integrating globally is the high
risk of dependence. An important step towards this integration is Vietnam's
participation in the Regional Comprehensive Economic Partnership (RCEP). Although
this agreement aims to expand Vietnam's export market, especially in fields such as
agriculture, fisheries, garments, textiles, and footwear, it also carries the potential risk
of increasing dependence into other countries. Vietnam's export market is relatively
concentrated and relies heavily on 5 markets. In 2020, about 75% of Vietnam's final
export products were exported to 5 key markets: US (37%), EU (19%), China (8%),
Japan (7%) and South Korea (6%). Vietnam's exports are vulnerable to demand shocks
in these key markets, so relying too much on certain markets can lead to economic
vulnerabilities. For example, if imports exceed exports, Vietnam will have to depend
on external resources to meet domestic demand, potentially leading to a foreign
exchange downturn.
Vietnam is one of the most dynamic economies in Southeast Asia and is experiencing
significant economic growth. According to Trading Economics, Vietnam's GDP
increased by 5.05% in 2023, and saw a year-on-year increase of 5.66% in the first
quarter of 2024. Despite the COVID-19 pandemic, Vietnamese businesses have shown
resilience and the country has maintained economic growth. With stable economic
growth, a strategic location, competitive labor costs, and a stable political
environment, Vietnam has become an attractive destination for foreign direct
investment (FDI) from countries like Korea, Singapore, Japan, and Taiwan.
In recent years, international economic integration and efforts to reform the investment
and business environment have helped Vietnam affirm its position in the international
arena and attract investors. Vietnam has actively participated in many free trade
agreements (FTAs) and is a member of many international organizations. According to
the WTO Center, to date, Vietnam has signed 13 FTAs and is currently negotiating 3
more FTAs. This integration has opened new markets for Vietnamese businesses and
boosted the country's economy, shaping the business landscape and promoting
economic development. International integration brings opportunities for Vietnamese
businesses but also poses many challenges
